Michael Page warns of continued tough conditions in recruitment market
The group said tough conditions in France and Germany contributed to a 13.8 per cent decline in first-quarter profits across its largest division of Europe, the Middle East and Africa.
In the UK, which accounts for almost a quarter of the firm’s earnings, profits were down 1.2 per cent compared with a year ago, and overall profits were down 6.7 per cent at £126.8 million.
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Hide AdChief executive Steve Ingham said: “Activity levels remained strong in the quarter, but with difficult trading conditions continuing in several markets, we anticipate the second quarter to be a challenging quarter.”
Page’s shares were down 22.3p, or 5.6 per cent, at 375p in afternoon trading.